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Dustin Duff, Realtor Associate RE/MAX MOMENTUM

Should you help your adult child with a down payment for a house?

More than one-third of Millennials looking to purchase their first home say they plan to rely on a loan or a gift from a relative to cover a key portion of their down payment, according to a recent survey.

And even if your own kids haven’t yet asked for a hand, many of them might be considering it. The “Modern Homebuyer” survey from ValueInsured, a company that sells insurance to consumers that pays back their down payments if the value of their home falls, indicates that nearly 60% of Millennials looking to buy their first home aren’t confident they can afford to do so.